© Reuters.
The initial public offering (IPO) of the German defense firm, Renk Group, which was scheduled to debut on the Frankfurt Stock Exchange this week, has been postponed. The decision was announced late Wednesday due to deteriorating market conditions.
Renk and its Triton-owned shareholder decided to defer the sale of 27 million shares, owned by Rebecca BidCo. These shares were priced between €15 and €18 each, with the IPO projected to raise between €405 million to €486 million (EUR1 = USD1.0509).
Despite the delay, Renk Group hinted at a possible future IPO. However, the firm did not provide any specific details regarding rescheduling, leaving investors and the broader market in anticipation of its eventual trading debut.
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